Bright Morning - 25 June 2026

Bringing the latest market news closer to you.

Macroeconomy

• Treasury Secretary Scott Bessent expressed confidence Wednesday that the U.S. economy can reclaim 3% growth as the Iran war concludes. However, domestic growth slowed over the past two quarters, battling a resurgence in inflation, a moderating labor market, and the impact of President Donald Trump's tariffs.
• Inflation risks de-anchoring if new price shocks emerge, the Economist Intelligence Unit warned, citing a looming "super" El Niño driving up food costs. "With inflation already well above target, new price shocks are highly likely to de-anchor inflation expectations," wrote EIU Asia regional director Alex Holmes.

Fixed Income

• PHP government bond yields moved sideways in thin trading as a lack of fresh catalysts kept investors sidelined.
• US Treasuries rallied as yields plunged roughly 9 basis points, driven by falling oil prices and a sharp selloff in technology shares.

Equities

• Global equities slid 0.19% as tech losses deepened and lingering fears of prolonged high interest rates dampened investor sentiment.
• The PSEi tumbled 2.20% (-134.85 pts) to close at 5,991.37, dragged down by ICT in volatile trading. A weakening peso-with the USD/PHP breaching the 61 milestone-amplified the retreat, fueling a substantial PHP 1.04 billion net foreign selloff.

Bright Idea

• PHP bond yields climbed 3-9 bps after the BTr awarded 4Y and 10Y bonds at the high end of guidance. Secondary market activity was muted on a lack of local catalysts.
• US Treasury yields slipped 1-3 bps on lower oil prices and soft macro sentiment amid a global chipmaker selloff.

Daily Market Movements